We keep reserve amounts for each property in a trust account. The reserves are kept in the event that repairs are needed to be done on a property. This reserve allows us to pay for repairs without having to get a check from the homeowner first. Whenever we can, we simply replenish the reserve by taking the amount out of the next month’s rent before we do owner disbursements.
This is different from the approval amount you as the homeowner get to pick for repairs. You can choose what amount you are comfortable with for us doing repairs. You choose at what amount you want us to contact you first to get approval.
Please keep in mind that if something is a safety concern for tenants, or a damage concern for the property we take immediate action to protect you and your asset.